News and Views

Archived News

Overseas investment in the City continues apace

The City of London is continuing to maintain its attractions for investors from overseas with the announcement of the purchase of Winchester House, 1 Great Winchester Street, EC2 by a joint venture between China Investment Corporation and Invesco Real Estate. The latest transaction reinforces the trend towards foreign ownership (now over 52% by value) analysed in the report by Development Securities in November 2011, in particular from China and Germany. For more information, click here.

Winchester House is a 310,000 sq ft building and is the London headquarters of Deutsche Bank, who occupy on a lease with a break in 2018. The property was sold by the German fund manager Kanam for £245 million, reflecting an initial yield of 5.6%. The deal is CIC’s first direct property acquisition in the UK.